NEW DELHI: PVR Cinemas announced on Friday that it has signed a contract with the International Cricket Council (ICC) to show some live matches of the ICC T20 Men’s World Cup in 2021 across the country.
The chain of cinemas will show all games hosted by India as well as the semi-finals and finals in its 75 cinemas in over 35 cities.
In some states, movie theaters still operate with limited capacity and limited hours. States like Telangana, Rajasthan and Karnataka are the only exceptions that allow cinemas to be 100% occupied. Screening, the company said, will further help bring audiences back.
Gautam Dutta, CEO of the company, said, “Watching movies and watching cricket in India are a shared entertainment experience. They complement each other. «
Earlier this week, multiplex chain Inox Leisure Ltd announced that it will also be showing the Indian team’s games at the ICC Men’s T20 Cricket World Cup in their cinemas. Inox had announced that it would have different prices for its live games depending on the market, ranging from 200 yen in a tier 3 city to 500 yen in the larger subways.
The pandemic has put a heavy burden on multiplex chains across the country as many have been closed for long periods of time due to Covid-19 protocols. In July, PVR announced a net loss of 225.73 billion yen for the April-June quarter.
In May, the rating agency Crisil said that the second wave for multiplexes will drive the recovery until the next financial year. It added that multiplex operators (who account for nearly half of the industry’s revenue) are expected to experience liquidity losses this fiscal year as well. « They were bleeding 900 billion yen in fiscal 2021, compared to a cash gain of 785 billion yen in FY 2019-20, » said Nitesh Jain, director of CRISIL Ratings.
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